Va. Code » Title 58.1. Taxation » Subtitle I. Taxes Administered by the Department of Taxation » Chapter 3. Income Tax » Article 10. Taxation of Corporations
Virginia Code

Va. Code Ann. § 58.1-409 (2026)

Property factor

✓ current as of May 2026
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The property factor is a fraction, the numerator of which is the average value of the corporation's real and tangible personal property owned and used or rented and used in the Commonwealth during the taxable year and the denominator of which is the average value of all the corporation's real and tangible personal property owned and used or rented and used during the taxable year and located everywhere, to the extent that such property is used to produce Virginia taxable income and is effectively connected with the conduct of a trade or business within the United States and income therefrom is includable in federal taxable income.

Code 1950, § 58-151.042; 1971, Ex. Sess., c. 171; 1978, c. 184; 1981, c. 402; 1984, c. 675.

Notes of Decisions
Cited in 3 cases (2 in the last 5 years), 1999–2023 · leading case: Com., Dept. of Taxation v. Delta Air Lines, 513 S.E.2d 130 (Va. 1999).
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Com., Dept. of Taxation v. Delta Air Lines, 513 S.E.2d 130 (Va. 1999). · cites it 6× “This issue requires an analysis of whether Delta’s overflights constitute business activities “in the Commonwealth” pursuant to Code §§ 58.1-409, -410, -414, and -416. Because these overflights occur “over the Commonwealth” rather than “in the Commonwealth,” we will affirm the…”
Virginia Dep't of Taxation v. R.J. Reynolds Tobacco (Va. 2022). · cites it 31× “” Code § 58.1-409. 2 In 2011, for the tax years ending in June 2008,4 December 2008, and December 2009 (collectively, the First Assessments), Lorillard filed a request with the Department to recalculate the apportionments used in the First Assessments.”
Commonwealth of Virginia, Dep't of Taxation v. 1887 Holdings, Inc. etc. (Va. Ct. App. 2023). · cites it 2× “1-408; see also Code §§ 58.1-409 (defining “property factor”); -412 (defining “payroll factor”); -414 (defining “sales factor”).”
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